Information agency Credinform represents an overview of activity trends of the largest marine capture fisheries and seafood processing companies in the Far Eastern Federal District of Russia.
Seafood companies with the largest volume of annual revenue (TOP-500) were selected for the analysis, according to the data from the Statistical Register for the latest available periods (for 2013 – 2018). The analysis was made on the basis of the data of the Information and Analytical system Globas.
The largest enterprise in the Far Eastern region in terms of net assets is KURILSKII RYBAK NJSC, INN 6511000178, Sakhalin region (in process of reorganization in the form of acquisition of other legal entities, 26.12.2019). In 2018, its net assets amounted to 15,3 billion rubles.
The smallest amount of net assets in the TOP-500 list was hold by TUNAYCHA COMPANY LLC, INN 6504018880, Sakhalin region. The insufficiency of property of this company in 2018 was expressed as a negative value of -2 billion rubles.
The average values of net assets of TOP-500 enterprises tend to increase over the five-year period (Picture 1).
The shares of TOP-500 enterprises with insufficiency of assets have a tendency to decrease in the last five years (Picture 2).
The revenue volume of 10 leading companies in 2018 made almost 32% of the total revenue of TOP-500. (Picture 3). It points to a high level of intra-industry competition in the region.
In general, there is a trend towards an increase in sales result (Picture 4).
Profit and losses
The largest company of the industry in terms of net profit value is KURILSKII UNIVERSALNYI KOMPLEKS LLC, INN 6501231095, Sakhalin region (in process of reorganization by spin-off, 04.09.2019). The company's profit amounted to 13,2 billion rubles for 2018.
The profit of TOP-500 enterprises trend to increase over the five-year period (Picture 5).
Average values of net profit’s indicators of TOP-500 companies trend to increase for the five-year period, at the same time the average value of net loss decreases. (Picture 6).
Key financial ratios
Over the five-year period the average indicators of the total liquidity ratio of TOP-500 enterprises were well above the range of recommended values - from 1,0 up to 2,0, with a tendency to increase (Picture 7).
There has been a downward trend in average values of the return on investment ratio over the course of five years (Picture 8).
This ratio of business activity showed a tendency to decrease over the five-year period (Picture 9).
41% of TOP-500 companies are registered in the Register of small and medium-sized enterprises of the Federal Tax Service of the RF. At the same time, their share in the total revenue of TOP-500 amounts to 25,6%, that is higher than the national average (Picture 10).
Main regions of activity
The TOP-500 companies are registered in all 8 regions of the federal district and distributed unequal across the territory, in accordance with the geographical location of seafood production sites. Almost 88% of enterprises with the largest volume of revenue in the industry are concentrated in Kamchatka and Primorye territories and in Sakhalin region (Picture 11).
Financial position score
An assessment of the financial position of TOP-500 companies shows that most of them are in average financial position (Picture 12).
Solvency index Globas
The vast majority of TOP-500 companies got Superior/High or Strong/Medium Solvency index Globas, that points to their ability to pay off their debts in time and fully (Picture 13).
A comprehensive assessment of activity of the largest marine capture fisheries and seafood processing companies in the Far Eastern Federal District, taking into account the main indices, financial indicators and ratios, points to the prevalence of positive trends (Table 1).
|Trends and evaluation factors of TOP-500 companies||Specific share of factor, %|
|Rate of growth (decline) in the average size of net assets||10|
|Increase / decrease in the share of enterprises with negative values of net assets||10|
|Level of competition / monopolization||10|
|Rate of growth (decline) in the average size of revenue||10|
|Rate of growth (decline) in the average size of profit (loss)||10|
|Growth / decline in average values of net profit of companies||10|
|Growth / decline in average values of net loss of companies||10|
|Increase / decrease in average values of total liquidity ratio||5|
|Increase / decrease in average values of return on investment ratio||-10|
|Increase / decrease in average values of asset turnover ratio, times||-10|
|Share of small and medium-sized enterprises in the industry in terms of revenue being more than 22%||10|
|Financial position (the largest share)||5|
|Solvency index Globas (the largest share)||10|
|Average value of factors||6,1|
positive trend (factor), negative trend (factor).
Since January 01, 2020 the Federal Law No. 444-FZ from November 28, 2018 «On Amendments to the Federal Law «On financial accounts» came into force.
According to the amendments, the State information resource of accounting (financial) statements will be organized in Russia. The Federal Tax Service (FTS of Russia) is authorized to maintain the resource.
In accordance with the Federal Law, beginning from the financial accounts for 2019, all companies are obliged to file accounts only in electronic form. Small business entities will file accounts in electronic form since 2020.
Along with this, now the companies are not obliged to submit the accounts to the State statistics authorities.
The accounts should be submitted to the tax authorities at the place of registration of the taxpayer no later than three months after the end of the reporting period.
Besides, the Law defined that the Central Bank of the Russian Federation submits the annual accounts (annual balance and profit and loss account) until 15 May of the year following the reporting period.
Interested parties can get information from the State information resource of accounting (financial) statements for a fee.
According to the Information and Analytical system Globas, during 2016 – 2018 about 2,2 million of financial accounts at average have been filed with the State statistics authorities annually. After the creation of the State information resource of accounting (financial) statements, the number of accounts collected by the FTS of Russia will be close to 4 million and will be comparable to the number of entities registered in the Unified State Register of Legal Entities.
Financial accounts for 2019 as well as for previous periods will be fully represented in the Globas.